The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada decreased 7% in March (242,195 units) compared to February (260,047), according to Canada Mortgage and Housing Corporation (CMHC). The six-month trend in housing starts decreased 1.6% from 247,971 units in February to 243,957 units in March. The trend measure is a six-month moving average of the SAAR of total housing starts for all areas in Canada. The actual number of housing starts across Canada in urban centres of 10,000 population and over was up 16% to 17,052 units in March compared to 14,756 units in March 2023. The year-over-year increase was driven by higher multi-unit starts, up 19% and higher single-detached starts, up 2%. March’s actual housing starts were 10% and 15% higher year-over-year in Toronto and Vancouver, respectively, because of higher multi-unit starts, while single-detached starts decreased. Montreal’s actual starts decreased 1%, dragged down by lower multi-unit starts.